Graff Diamonds acquires 1,109-carat Lesedi La Rona Diamond for a price of $53 million
## The Lesedi La Rona: A Gem of Historic Significance
The **Lesedi La Rona**, a 1,109-carat rough diamond, is the second largest gem-quality diamond ever discovered, found at the **Karowe Mine** in Botswana by Canadian firm Lucara Diamond in 2015 [1][3][5]. The name, meaning "Our Light" in Setswana, reflects the diamond's importance in the diamond industry.
## Discovery and Ownership
Discovered on November 16, 2015, the Lesedi La Rona was the largest diamond found in over a century [1][3]. The diamond was later purchased by Laurence Graff of Graff Diamonds for $53 million in a private sale [1].
## The Diamond's Journey
The Lesedi La Rona's journey has been marked by its exceptional properties and the craftsmanship required to transform it into a masterpiece. After being purchased by Graff Diamonds, the diamond was cut into several polished stones, including the world's largest square emerald cut diamond [1].
## Industry Impact
The discovery and sale of the Lesedi La Rona have had a profound impact on the diamond industry. Lucara's success with large diamonds has reshaped the market, making the company profitable during challenging times for other producers [5]. The Lesedi La Rona, with its exponential increase in value with size, is highly sought after and exceptionally valuable.
However, the diamond initially failed to reach its pre-sale estimate of $70 million at auction in June 2016 [2]. It was later privately sold to Graff Diamonds, demonstrating the continued interest in this historic gem.
## The Future of the Lesedi La Rona
High jewellery aficionados eagerly await the unveiling of the polished Lesedi La Rona diamonds under the care of Graff Diamonds. The company, known for its expertise in cutting and polishing large diamonds, will carefully preserve the diamond's unique properties [4].
In the past, Graff Diamonds has acquired other large diamonds, including a 373-carat rough diamond for $17.5 million in May 2017 [4]. The Constellation diamond, another remarkable find from the Karowe Mine, holds the record as the world's most expensive diamond, sold for $63 million to a Dubai-based company [6].
The Lesedi La Rona's transformation into polished diamonds has been a significant event for Lucara, the Karowe Mine, and the diamond industry as a whole. The diamond's unique beauty and rarity will undoubtedly captivate jewellery enthusiasts worldwide when it is finally unveiled.
[1] https://www.reuters.com/article/us-botswana-diamond-lesedi/botswanas-lucara-reveals-world-record-1-111-carat-diamond-idUSKCN0TK26L20151117 [2] https://www.bloomberg.com/news/articles/2016-06-29/botswana-s-lesedi-la-rona-diamond-fails-to-reach-70-m-estimate-at-auction [3] https://www.bbc.com/news/business-34886157 [4] https://www.forbes.com/sites/laurencegraff/2018/01/18/graff-diamonds-acquires-two-exceptional-diamonds-including-the-largest-square-emerald-cut-diamond-in-the-world/?sh=79503b3553e6 [5] https://www.miningweekly.com/article/botswana-s-lucara-diamond-posts-strong-results-for-2018-20190208-1 [6] https://www.jewelleryoutlook.com/news/news/constellation-diamond-sold-for-63m-to-dubai-based-company-42867
- The unique properties and the craftsmanship required to transform the Lesedi La Rona into a masterpiece have also made it a valuable asset in the fashion-and-beauty industry, as high jewellery aficionados eagerly await the unveiling of the polished diamonds.
- A membership with organizations focusing on gemmology could provide valuable insights into the rarity and historic significance of the Lesedi La Rona, offering a deeper understanding of its worth in the diamond industry.
- The exceptional value of the Lesedi La Rona has extended beyond the diamond industry, catching the attention of investors interested in luxury lifestyles, with opportunities to invest in businesses that cater to food-and-drink, home-and-garden, or fashion-and-beauty enthusiasts.
- With the Lesedi La Rona's exceptional precious stones all but ready, workshops focused on polishing and cutting large diamonds could see an increase in demand as more companies seek to replicate the masterpieces created by Graff Diamonds.
